ZAP Electric Mobility Solutions Pvt. Ltd.

REASONS TO INVEST

The Global Problem

Climate Change

Conventional buses running on fossil fuels contribute to greenhouse gas emissions, primarily CO2. This exacerbates global climate change, leading to more extreme weather events, rising sea levels, and disruptions in ecosystems.

Energy Loss

Internal combustion engines are less efficient compared to electric motors, resulting in greater energy loss during the conversion of fuel into motion. Electric buses, on the other hand, have higher energy efficiency.

Sustainability Goals

Governments and cities committed to sustainability and environmental targets may struggle to achieve their goals without widespread adoption of electric buses.

Maintenance Cost

Traditional buses with internal combustion engines require more maintenance due to the complexity of their mechanical components. This can lead to higher operational costs over the lifespan of the vehicle.

Missed Economic Opportunities

Without transition to e-buses new job opportunities in industries related to battery manufacturing, e-vehicle maintenance, and renewable energy production; may not be realized.

Global Solution

The push towards production incentives and targets for increasing EV penetration among heavy commercial vehicles is rising.

Emission Norms

Tighter emission norms Euro-7 is expected from 2025, which is likely to force the phasing out of ICE engines especially Diesel.

Charging Stations

Infusing CAPEX and incentivizing the set-up of charging stations.

Localized Production

Increasing localized production of EVs and critical components like batteries has been a rising priority across major economies.

FAME I (2015-19)

Focus on technology development, demand creation, pilot projects and charging infrastructure.

FAME II (2019-24)

Focus on demand incentives, charging infrastructure and administration of scheme including publicity, information, and education activities. Target to subsidize 7000 buses.

Make in India

Emphasizing on producing the vehicle within India to support growing GDP.

Global Push For E-Mobility

At UN Climate Change Conference (COP21) in Paris in 2015, all member countries decided to bring down Carbon emissions to Zero by replacing fossil fuel-based Internal Combustion Engines (ICE) vehicles with Electric Vehicles.

Declaration by Prime Minister Sh. Narendra Modi at the COP28 Summit on Climate Change in Dubai in December 2023 that India plans to bring down carbon emissions intensity by 45% and to increase the share of non-fossil fuels to 50% by 2030.

The Government of India pronounced at the Davos Conference in Switzerland recently that the total estimated demand for electric buses shall be to the tune of US$ 7 billion in 743 cities in India by 2030.

ZAP Contribution in the “Revolution”

ZAP will manufacture and operate their buses across India which will reduce the extensive dependence of customers on state owned transport services with attractive fare rates and luxury.

With the technological advancement ZAP is bringing in its buses, around Rs. 20 per km would be saved in energy cost over diesel buses and maintenance cost would be much less than the traditional buses.

This surely is an attractive value proposition for zero-emission Electric buses which will go a long way in reversing the consumer resistance to electric buses and augmenting EV sales in the country.

With the proposed 13.5-meter inter-city luxury bus, buyer of ZAP Buses, would be able to make an additional annual revenue of Rs. 19.20 Lacs by way of additional seats. Additionally, with the availability of huge additional space, owners of ZAP buses can carry goods on a pan-India basis leading to a geometrical growth in their revenues.

Additionally, with the availability of huge additional space, owners of ZAP buses can carry goods on a pan-India basis leading to a geometrical growth in their revenues.

Business Plan – Design, Develop & Manufacture

ZAP Mobility to establish manufacturing at existing factory kick start project initial prototyping & manufacturing factory at Amar Coach Builders, Jalandhar, Punjab – undertake Design, Development and Manufacture of Electric Buses  ZAP Mobility plans to set up green field manufacturing facility in a 25 acre plot at the Yamuna Expressway Industrial Development Authority (YEIDA), in Uttar Pradesh.

Designs 3 Bus Models

ZAP Mobility to concentrate on 3 Electric Bus Models for design, development, prototyping and commercial production:

• 13.5 Meters – Inter-city Luxury buses
• 12 Meter – Inter City and city passenger
• 9 Meter – Intra City, School Buses, Tourism and Office / Township Charter buses

Current and Future Business Goals, Strategies and Plans

The Company plans to become one of the dominant players in the electric bus manufacturing industry in India

Creating our own captive markets through Build, Own and Operate (BOO) system launching Pan India bus operations creating MSME subsidiaries

Creation of 40 MSMEs with each having 20 buses. Once the Operation business stabilises increase buses by additional 10 buses in each subsidiaries Signing up Build Own and Operate (BOO) deals with State Road Transport Undertakings (SRTUs), public sector giants like SAIL, BHEL, HMT, Defence Sales.

Business USPs

• Manufacturing of Buses and Operating Buses
• Enhancing profits both as OEM and Operation companies
• Build, Own and Operate (BOO)
• Creating our own captive markets by establishing Pan India MSMEs
• Assured Markets
• Jump start business by procuring complete CHASSIS (loaded) from TRONE
• Proprietary Battery with latest technology (Lithium Phosphate) that withstands extreme heat conditions and patented cooling system — Technology from Taiwan, thereby enhancing life span

Production & Market Strategy

• ZAP signs up with TRON – a Global leader from Taiwan for technology transfer
• In a phased technology transfer : ZAP to build buses on TRON chassis
• Minimum 50% indigenization of the bus from the first year, Full indigenization by 4th year in new plant
• ZAP Mobility signs up with Small Industries Development Bank of India (SIDBI) to help create 40 MSME Joint Ventures with its subsidiaries for launching unique MSME Electric Bus Operations on a Pan India basis to help reduce carbon emissions to ZERO.
• SIDBI to fund Rs 40 crores per MSME to purchase ZAP buses while ZAP Subsidiaries to drive MSME Bus Operations on Pan India basis.

Market Strategy

• ZAP Mobility starts ‘Bus Operations’ through its own subsidiary with 200 intercity/ intra city luxury buses in the first year.
• ZAP Mobility to set up another 40 MSMEs in the second year.
• The all-India ZAP Bus Operations network with 800-odd buses by then will have demonstrated the performance of the ZAP Electric Vehicles, thereby establishing the ZAP Brand and creating the demand for the entire range of ZAP Electric buses.
• Today the total number of Electric Buses in India stands at only 5000 units. ZAP expects to gradually build up its market to 10,000 units initially.

ZAP Mobility plans to set up at it’s greenfield EV manufacturing facility eventually to a level:

• Manufacture of Electric Buses — 30,000 per annum 
• Manufacture of Electric Trucks — 35,000 per annum. This includes smaller trucks of
• 3.5 tons and 9 tons for the last-mile delivery demand

Industry Drivers and Barriers

• The government’s decision to replace fossil fuels by Electric Mobility is the primary driving force for the Electric Bus industry
• India today has a total strength of 2.3 million buses (fossil fuel-diesel/Cng/petrol etc.) of which 140,000 are run by public transport authorities (SRTUs)
• As against this today only 5000 Electric Buses have been manufactured in India
• Hence not only the entire 2.3 million buses need to be replaced by electric buses but that the annual projected growth needs to be met by way of only electric buses
• There is no barrier to the growth of the Electric vehicle industry including electric buses.

Reduce Carbon Emissions

• The project is in response to the Prime Minister’s clarion call to make India a global hub for electro-mobility to bring down carbon emissions to ZERO through E-Mobility
• We plan to set up an integrated infrastructure project that will help reduce 11.3 million tonnes of carbon emissions annually, help decarbonise Indian roads by 95,325 tonnes per annum of carbon dioxide and generate 60 MW of solar Green energy to provide clean air.

Battery Pack

TRON Energy Technology Corporation, Taiwan Leads the auto Battery pack industry globally with its Lithium Ion Phosphate Batteries leading to:

• Improved Cycle Life
• Improved  Performance
• Improved Safety
• Lower Cost
• Builds upon long standing relationship

MARKET Overview

Market Overview of EV in India

Electric vehicle (EV) sales in India witnessed a significant transformation between 2018 and 2022. Initially, the adoption of EV had been sluggish, with the market not gaining much momentum until 2019. However, from 2020 onwards, EV sales across vehicle categories experienced an explosive surge, driven by various factors. One of the key driving forces behind the rapid growth of EV sales was the Indian government’s push towards electric mobility. The government’s commitment to promoting sustainable transportation played a pivotal role in inspiring greater interest in EVs.

The remarkable growth of the Indian EV market is underscored by an impressive Compound Annual Growth Rate (CAGR) of 188% over the last three years. This exponential rise in EV sales demonstrates the immense potential and demand for electric mobility in the country. The sale of such a small number of sale of electric buses in 2022 in the vast country like India shows that the growth prospects of the electric bus industry.

Indian Market Size of Electric Buses – 2017-2024

The market for electric buses in India is estimated to be $1,275.1 million dollars in 2023 and is expected to change by 17.4 percent from 2023 to 2024. Considering conversion rate of USD to INR, the market will be Rs. 5,08,807 million in 2023 and is forecast to change by 16.2 percent from 2023 to 2024.

Share of Major Market Players in India

ZAP’s Unique Selling Point

Interestingly today, there is no competition for 13.5-meter super luxury Electric buses in India

• Mileage: Technology that allows EV to drive as much as 500 kms on a single charge.
• Comfort: Luxurious & multi-functional seats will give joyful ride with 5G connectivity.
• Safety: In case of fire, only one cell that catches fire implodes, while all other cells continue to work normally.
• Spacious: 13.5-meter Electric Buses have a larger number of seats and cargo holds.

Target Customers

• Private Bus Operators
• State Road Transport Undertakings
• Government Bus Operators
• End Consumers
• (Through Subsidiary)

Key Partner – For Coach M/s. Amar Coach Builders

M/s Amar Coach Builder established in 1984 but the promotor, Mr. Devender Singh, and his family is in same line of business since last 50 years. Mr. Singh is also the President of the Indian Bus Coach Builders Association.

They are major supplier to the Original Equipment Manufacturers (OEM) like Ashok Leyland, and the Indian Railways.

The firm has ventured with the brands like FOTON Motors & Daewoo Motors in the past. Their plant has modern facilities that are required for manufacturing all kind of buses, coaches and the seats for the buses and railways.

Key EV Technology Partner – MOU Signed

We have finalized M/s TRON Energy Technology Corporation, Taiwan as major supplier for the battery as their batteries are not only the lightest in weight but also excel in performance. Best-in-class life cycle, performance & safety at lower cost.

Capital ask

Capital Raise : Rs. 477.40 Crores : 0-12 months

• 25 Acre Land Acquisition, Land development and boundary wall construction activity at YEIDA for New Facility in Uttar Pradesh
• Prototyping Contract execution : developing full integrated power train with battery, charger, motor, gearbox, chassis and control software at existing facility at Jalandhar
• 7 subsidiary creation & Charging Stations with equity investment and supply of 140 buses from Jalandhar factory
• Plant pre-basic infrastructure work initiated

Second Tranche : Rs. 461.50 Crores Capital Raise : 12 -24 months

• Complete Plant & Warehouse facility construction on 8 acres
• Construction of Chassis assembly
• Machinery & Equipment with automation equipments purchase
• Subsidiary investment and Charging System (12)
• ERP & Other systems implementation

Third Tranche : Rs. 210.00 Crores 25 – 36 months overlapping

• Subsidiary and Battery Charging Station investments (21)
• New Plant Commercial Production and operations Commencement

Stage 3-A
Fourth Tranche : Rs. 300 crores provisional

Team – ZAP Mobility

Anand Vardhan
Founder & Chairman

Anand Vardhan, Founder & Chairman, ZAP Mobility Pvt. Ltd., a techno-economic strategist, has over 40 years of Corporate Experience, with specialization in developing Business Strategies and Solutions, Electric Batteries (EBs), Electric Vehicles (EVs) and Technology development in the Transportation Industry. Today, Anand Vardhan is committed to the national cause of developing Electric Buses to reduce carbon emissions to zero.

While founding ZAP Mobility, Anand Vardhan has pioneered the development of the Wireless Charging of Electric Vehicles (EVs) along with Delhi Technological University (DTU). This Technology is awaiting award of patent in E-Mobility Infrastructure segment.  ZAP Mobility provides solutions and facilities for the manufacture, Integration and Operation of Electric Buses in the Mass Mobility space — i.e., Optimization in Electric Vehicles (EVs) design and development to meet the global climate change needs.

Sanjiv Banerji
Chief Executive Officer (CEO)

• FCA, ACMA, Executive Management IIM Calcutta
• Management Programes – SP Jain – Creating Value through FM, Insurance – Risk Management, Motorola- Six Sigma Green Belt, Euro Finance – Treasury Management, IRDA certified.
• 33 years of corporate experience
• Price Waterhouse (Consulting)  – Management Consultancy – 4 years
• A F Ferguson (Audit) – Asst. Manager Audit – 1 year
• ACC Ltd, Mumbai – Corporate Manager Finance – 9 years
• Metito Holdings, Dubai  (Consortium – Mitsubishi, World Bank IFC, Gulf 
• Capital, Clean & Global) – Group Controller Finance, IT and MIS – 15 years 
• Structured Management Consulting LLP (SMCLLP)– Managing Partner – 5 years

Nirdosh Dhiman
MD-Operations

An MBA – B. Com Graduate 25 years of Corporate Experience

• CEO : 25 years experience with Buses industry having served as CEO at Indo-Canadian Luxury transport company.
• CEO : Orbit Aviation Pvt. Ltd. stage carriage bus division of Badal Group, Punjab
• GM : Automobile Logistics National Auto Roadline Carriers

Achintya Pal
Chief Financial Officer (CFO)

Chartered Accountant
25 years of Corporate Experience

• CFO – Holcim Cement Limited
• ACC Limited, VP Consolidation and shared Services – 16 years
• Nuclear Power Corporation : 1 year, Accounts Officer
• Price Waterhouse Corporation 3 years

ACA, Management Programs – Transformational Leadership – IIM A, Foreign Exhange Management – XLRI

Devender Singh
Director – Body Manufacturing

Mr Devender Singh is a doyen of the Indian automobile industry with over 50 years of experience in bus manufacturing. Today he has been elected President, of the All-India Coach and Body Builders Association for his excellence. 

Mr Singh, making a modest start as a fabricator in the 70s grew to be JV partner of Daewoo Motors in the early 90s and soon followed by the launch of FOTON buses in India under JV with FOTON, world’s single largest bus manufacture from China. Today he is committed to the national cause of developing Electric buses to reduce carbon emissions to zero.

Shoubhik Sen
Chief Technology & Manufacturing

B.Tech Electrical Engg – Jadavpur Engg College, Cert. Six Sigma Black Belt, Cert. Lean Mgt, Cert Lead Auditor – ISO 9001 & 14001

36 years of corporate experience

• Philips India (Consumer Electronics) – Production Manager – 11 years
• Pertech Computers (IT Hardware) – Manager  – Manufacturing – 1 year
• Sony India (Consumer Electronics) – Business Head – Professional Products – 9 years
• Flextronics – US & Europe – Sr. Director Global Business Excellence – 9 years · Jubilant Life Sciences (Pharma & Chemicals) – Sr. VP & Head Business Excellence – 6 years 

Preet Inder Singh
BE (Mech) UK, President Body Manufacturing

Mr Preet Inder Singh after specialising in the UK and Canada in the automotive technology has created appropriate technologies in agricultural implements that making Indian farming extremely efficient and cost effective.

Mr Singh is today working on automation and electric vehicles design and development to meet the global climate change needs.